Warren Buffett and Cathie Wood, although widely different in their philosophies, are two of the world's most prominent investors today. Buffett is famously known for his value investing strategy, where he looks for companies that are unjustifiably cheap based on their intrinsic values. The star stock picker also prefers companies with wide economic moats, high dividend yields, and easy-to-understand business models.

On the other hand, Cathie Wood is a growth investor favoring highly innovative companies in disruptive industries. These companies trade at higher valuations, don't pay dividends, and are not yet profitable or cash-flow positive. The rationale is that they will eventually blossom into profitable businesses and grow into their expensive valuations over time.

Buffett's value stocks have benefited from current macroeconomic conditions. Owing to 40-year-high inflation, the Fed's decision to hike interest rates as a result, and unsettled fears in connection to the war between Russia and Ukraine, investors have dumped growth stocks and swarmed to value-oriented businesses. Not only are high-growth companies adversely impacted by rising interest rates, but many of them are also riskier plays due to their lofty valuations and lack of net profits.

Mindful of that, let's dive into one stock each investor owns and determine which one might be the better buying opportunity today.

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Buffett's pick: Kraft Heinz

Kraft Heinz (KHC -0.25%), the third-largest food and beverage company in North America, is a top-five holding in Buffett's portfolio today. The well-known consumer staples stock has climbed 18% in the last six months, representing a solid increase compared to the S&P 500's negative 15% return in the same time frame. The company beat both top- and bottom-line forecasts in its most recent quarter -- total sales fell 6% year over year to $6.0 billion, but diluted earnings per share soared 37% to $0.63.

For the full fiscal year 2022, analysts are modeling top and bottom lines of $25.6 billion and $2.69/share, indicating -2% and -8% growth year over year, respectively. So, why are investors flocking to this stock right now despite the forecasted slump in growth this upcoming year? It probably has something to do with the stability of its business.

Being a consumer staples stock, Kraft Heinz is exposed to minimal volatility because its business is centered around everyday products that people need regardless of economic conditions. In investor-speak, it's a value stock. And to top it off, the company pays investors to own the stock, boasting an annual dividend yield of 3.68%.

Cathie Wood's pick: UiPath

Unfortunately for her, Cathie Wood's investment in UiPath (PATH 2.92%) tells a different story. The robotic process automation (RPA) company, which aims to automate routine office activities for businesses, has watched its share price collapse by more than 70% in the past six months. On a positive note, however, the company continues to grow at a rapid clip.

In its fiscal year 2022 (which ended Jan. 31), total sales rose 47% year over year to $892.3 million, and the company delivered positive adjusted earnings per share of $0.08. Enjoying 10,100 customers globally, its annual renewal run-rate (ARR) climbed 59% to $925 million, and clients generating more than $100,000 in ARR rose 49% to 1,493.

Despite the upward trajectory at a fundamental level and a potential addressable market of $60 billion, the stock has been out of favor with the market. Short-term growth headwinds tied to impacts in Russia and foreign exchange rates, coupled with broader negative sentiment currently pulling down tech stocks, will likely govern UiPath's share price movement for the foreseeable future.

Yet, the stock still trades at an expensive nine times sales, despite falling 80% over the last 12 months from its all-time highs. With growth stocks, in general, facing headwinds in a high interest-rate environment, UiPath may only be a worthy consideration for daring investors at the moment.

Which stock is the better investment today

While there's no correct answer to which stock is a better play today, Kraft Heinz provides investors safety and stability in a progressively turbulent stock market. At the same time, it isn't growing at a fast rate and doesn't offer a great deal of potential for substantial capital gains. UiPath, however, is a dicey investment in today's market. But given the company's ongoing pullback, enormous revenue potential, and market capitalization below $10 billion, the stock gifts investors a long runway for potential growth.